My husband and I attended a Marriott time share presentation (we stayed at the Residence Inn for $100/4 days, and it was totally worth it!) a few weeks ago, and we are definitely going to buy one -- it's a better deal than I though it would be. However, we were not swayed into buying from the very first people to whom we talked!
The presentation that we attended was carefully choreographed to entice us to buy -- we were analyzing their sales technique and laughing to ourselves. Believe me: they have it down pat! Things they said /did that were blatantly obvious:
1. They fed us breakfast. They wanted us to be happy and to feel that they're a generous company.
2. They forced us to schedule the presentation for the next-to-last day of our vacation. We'd had several days of fun in the sun, and we were relaxed and enjoying ourselves -- yet we were also thinking inevitably, "Oh, but we have to go home tomorrow". I figure it's no accident that we had no choice in the presentation day.
3. As I dropped my children off in the playroom (very full of toys, supervised by a friendly woman, very secure), the salesperson said something like, "Oh, you're such a mom -- I can tell that you're a close family, and you're just the type who can benefit from a time share most. (Yeah, right, for all you know, I beat them and keep them in a closet at home.)
4. The first thing we did was to discuss how you spend money on vacation accomodations anyway, so you might as well be paying towards owning a time share instead of just renting hotel rooms. They called these "anyway dollars"; while I can agree with this concept, it doesn't mean that I should buy today from the first people to whom I speak.
5. Because the property we were visiting (Horizons in Orlando) is still in construction, we were taken to another property (Grande Vista) nearby to tour a condo. We learned later that Horizons by Marriott (they have Horizons in several cities) is a lower-grade Marriott property, and they consider it an "entry level" time share. So they showed us the nicer, fancier property and IMPLIED that the Horizons condos will be just like the Grande Vista condos. That was a bit shady, and it's proof positive that you'd better do your own homework!
6. Only after we'd toured the condo did they tell us the buy-in price. Why? Because they didn't want us to hear the price UNTIL AFTER we'd had time to decide that we wanted the product.
I could keep going with the little things that they did to try to sway us emotionally: John Travolta sometimes plays golf at this resort . . . See these people out here by the pool having fun? They're no different from your family and mine -- they've just decided to invest in family time. Though I didn't say anything snide to the salesperson, I was making a game of paying attention to her sales techniques.
At the end of our presentation, we explained:
1. We are very interested in this product, and we will buy a time share; however, in all fairness, we cannot possibly buy something this expensive with out comparing the cost and benefits to the other big names: Hilton, Westin, etc.
2. We are aware that time shares are available on the re-sale market, and we need to investigate that possibility before making a decision.
We can afford to write a check for the buy-in price, but if we could not (or if we chose to pretend we could not), another good reason would be:
3. We cannot in good conscience finance a luxury item like a time share for the 13.9% that Marriott offered.
Here are the things they said to try to convince us to buy THAT DAY:
1. If we'd bought into this particular property a year ago, the price would've been about 8K. Today we could buy in at pre-construction prices (the resort is only 50% finished) for about 10K. The longer we wait, the higher the price will go.
2. We toured at the end of July, and the property had only one water park open. Ironically, they were planning to open their second resort water park on August 4th, and -- you guessed it -- the price would be increasing on August 4th. One week to buy before the price increases. How lucky we were to be there at the right moment . . . yeah, right.
3. If we bought THAT DAY, Marriott would pay our closing costs and some piddly first-year expenses. Total: about 400.
4. When we said that we were definitely going to investigate other companies first, they suggested that we head out IMMEDIATELY to see the others so we could make a decision before leaving Orlando. I flatly refused, explaining that my children had been in the playroom all morning, and I had made them a promise to go back to Seaworld in the afternoon. They suggested that we just pick up the literature from Hilton -- that would be enough to show us that Marriott is the best. This was the only time I felt they were pushy -- when they were telling us to go TODAY and comparison shop.
I'm very glad that we did the tour. Weeks later, after the emotion has cooled, I am convinced that a time share would be a good financial decision for my family. However, I'm going to buy on my terms, and I'm not yet educated enough to make the decision. Here's what I think at this point:
1. Re-sale is way cheaper. Horizons, the Orlando resort we toured is not yet finished, and you can buy a "new" timeshare for 10K or a resale for 6-7K (and that's the seller's ASKING PRICE -- individuals usually are willing to negotiate). Marriott is selling Grande Vista for about 24K; you can find it on the resale market has it from 7-15K. You can google a dozen or more resale sites and see just how many time shares are available. Resale is a bit trickier. Keep in mind that an individual who's selling might be behind on his payments, or he might owe last year's maintenance fee; if so, you could end up buying his debts unknowingly -- better pay a lawyer 250 or so to assure that you get a clear title.
2. The companies do offer you some nice goodies if you buy from them. If you buy straight from Marriott, they give you a bunch of Marriott points right away. Enough points for a one-week trip to any Marriott plus plane tickets (it's even enough for a trip to Australia for four). Also, if you buy from Marriott, you continue to bank points every year when you pay your maintenance fees; this can be used for hotel stays or airline tickets. If you buy from an individual, you lose out on this perk.
3. Do look into all the options. I think the little places are worthless -- you don't want to go back to the same place year after year. Be sure to investigate the large companies with good reputations who can allow you to "trade resorts" all over the country (or the world). Marriott allows you to have a week here or a week there. Hilton sells you "points", which can be used for resorts all over the place -- and even RVs and houseboats. These are the only two I've looked into so far, and they're both good programs; however, I don't know which one best suits my family yet.
4. Keep in mind that some time-shares offer "even year" or "odd year" options. This means that you only get to use the unit every other year, but your maintenance fees are lower. At this point, we're seriously considering buying an "even year" Marriott property now, then adding an "odd year" property at a different home resort in a couple years.
Good luck! And don't feel bad about refusing to buy. I read that only 10% of the people who tour buy that day -- so the salesperson is used to hearing no. Considering that it's a major purchase, I think that's an awfully high number. Even if 99% bought, you shouldn't do it if it's not the right thing for you.
